| Dividend for year |
Dividend per share (PLN) |
% of net profit allocated for dividend |
Date of dividend right |
Date for dividend payment |
| 1999 |
0,05 |
3,30% |
31 May 2000 |
15 June 2000 |
| 2000 |
0,05 |
3,00% |
31 May 2001 |
3 July 2001 |
| 2001 |
0,12 |
20,30% |
17 July 2002 |
1 August 2002 |
| 2002 |
0,14 |
15,40% |
1 August 2003 |
2 September 2003 |
| 2003 |
0,65 |
29,80% |
2 August 2004 |
1 September 2004 |
| 2004* |
2,13 |
40% |
1 August 2005 |
1 September 2005 1.07 PLN / per share
1 December 2005
1.06 PLN / per share |
| 2005** |
0,00 |
- |
- |
- |
| 2006** |
0,00 |
- |
- |
- |
| 2007 |
1,62 |
25,11% |
1 August 2008 |
1 September 2008 |
| 2008** |
0,00 |
- |
- |
- |
| 2009** |
0,00 |
- |
- |
- |
| 2010** |
0,00 |
- |
- |
- |
* PKN ORLEN paid the dividend for year 2004 in two installments: 1 September 2005 and 1 December 2005
** PKN ORLEN didn’t pay the dividend for years 2005, 2006, 2008, 2009 and 2010.
Our dividend policy
Dividend policy of PKN ORLEN is based on identifying recommended level of dividend in relation to free cash flows for shareholders after realization of investment budget and optimization of capital structure („Free Cash Flow to Equity” – FCFE).
According to assumed methodology, depending on operating result, capex and expectations regarding changes of debt level in coming period, the Management Board of PKN ORLEN, before every PKN ORLEN Ordinary General Meeting of Shareholders, considers proposing of dividend payment for shareholders at the level of, at least, 50% of FCFE rate.
Dividend payout based on FCFE valuation - minimum 50% of FCFE; including capital investments, mergers and acquisitions; allows maintenance of optimal capital structure.
Basic information
Dividend
It is a part of net profit generated by the company for the certain financial year, which is shared among its shareholders. The level of the dividend, date of dividend right and date of dividend payment are determined by shareholders at the company’s ordinary general meeting of shareholders.
The Management Board of the company is obliged to present to shareholders a proposal of the level and way of dividend payment for the certain financial year at the company’s ordinary general meeting of shareholders.
Date of dividend right
The date on which a list of shareholders entitled to dividend for the certain financial year is established. Only these shareholders who hold company’s shares on that day have a right to receive the dividend for the certain financial year.
Date of dividend payment
The date when the dividend is transferred to company’s shareholders accounts.